CVA Family Office LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

CVA Family Office LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 44.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,343 shares of the semiconductor manufacturer’s stock after acquiring an additional 719 shares during the quarter. CVA Family Office LLC’s holdings in Broadcom were worth $2,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVGO. BlackRock Inc. increased its holdings in Broadcom by 1.7% during the first quarter. BlackRock Inc. now owns 29,844,893 shares of the semiconductor manufacturer’s stock valued at $19,146,692,000 after buying an additional 499,945 shares during the period. State Street Corp grew its holdings in Broadcom by 5.0% in the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock worth $10,670,149,000 after purchasing an additional 794,832 shares during the last quarter. Geode Capital Management LLC grew its holdings in Broadcom by 5.0% in the first quarter. Geode Capital Management LLC now owns 7,813,688 shares of the semiconductor manufacturer’s stock worth $5,001,948,000 after purchasing an additional 375,418 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Broadcom by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,511,602 shares of the semiconductor manufacturer’s stock worth $3,617,879,000 after purchasing an additional 513,864 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the last quarter. 78.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total value of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the purchase, the director now directly owns 15,951 shares in the company, valued at $13,909,750.53. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the sale, the director now owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $905.00 to $950.00 in a report on Friday, September 1st. Bank of America lifted their price objective on shares of Broadcom from $950.00 to $1,050.00 in a research note on Thursday, June 22nd. Mizuho lifted their price objective on shares of Broadcom from $840.00 to $960.00 in a research note on Friday, September 1st. BMO Capital Markets lifted their price objective on shares of Broadcom from $890.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. Finally, Truist Financial boosted their target price on shares of Broadcom from $942.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $846.14.

Broadcom Stock Down 2.3 %

Shares of NASDAQ AVGO opened at $851.68 on Friday. Broadcom Inc. has a 12-month low of $415.07 and a 12-month high of $923.67. The stock has a market cap of $351.52 billion, a PE ratio of 26.19, a P/E/G ratio of 1.79 and a beta of 1.10. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average of $874.95 and a 200 day moving average of $759.33.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the prior year, the business earned $9.07 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio is presently 56.58%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.